Money & Business

Friday Buzz: Facebook Introduces a New Fundraising Tool

By / Nov 20, 2015

The world’s largest social network announces it’s expanding into fundraising with the launch of an app to help users raise donations. Plus: The tastes of 2016.

Over the past few years, Facebook has transformed from a social media platform into an internet multitool, jumping into various projects, from cybersecurity to virtual reality. Now, Facebook is adding a new offering to its digital suite: fundraising.

According to a news release, the company has designed a new page layout for nonprofits to raise donations for campaigns.

Through the new feature, dubbed “Fundraisers,” organizations can “tell their campaign story, rally supporters, collect donations and visibly track progress toward a goal.”

This is not the first time Facebook has expressed interest in working with and supporting charity groups.

After April’s destructive earthquake in Nepal, for example, Facebook sent a message to users, giving them the option to donate to support emergency response teams.

Now, donations will be collected through an updated version of Facebook’s “Donate Now” button, which was made available to nonprofits earlier this year.

As part of the button update, an organization can add a donate button to any post or page it creates.

Facebook hopes this new tool will help nonprofits use its immense global network of 1.01 billion daily users to make a positive impact on the world.

“We’ve seen from our community that when people take action, lives are changed,” Naomi Gleit, Facebook’s VP of product management, wrote in a press release. “We know we can do more to enable these connections.”

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Eli Zimmerman

Eli is studying Journalism at the University of Maryland. When not studying, he likes to relax with a nice book or a couple rounds at the local boxing gym. More »

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